Nifty Analysis for 7 April

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Nifty Analysis for 7 April On daily chart Nifty is in the process of range formation. Broad range is between 7750 and 7500. Even on intraday chart Nifty is trading in a narrow range of 70 points. This range is between 7650 and 7580. Breakout beyond this range can give trading opportunities. This is definitely not a market to go long immediately. If Nifty breaks beyond 7650, it can go up to 7710. Breakdown below 7582 can take Nifty down to 7550.

Swing Trades (3-4 days) for 7 Apr- Long: TATASTEEL: Target- 350, stoploss- 314 CUMMINSIND: Target – 897, stoploss- 850 HAVELLS: Target – 340, stoploss- 310 Short: GLENMARK: Target-755 , stoploss- 804 UCOBANK : Target- 35.40, stoploss- 39.50 * Levels are Cash levels (Not futures)

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